Cheyenne Company owes $167,000 plus $14.900 of accrued interest to Ayayai State Bank. The debt is a 10-year, 10% note. During 2022, Cheyenne's business deteriorated due to a faltering regional economy. On December 31, 2022, Ayayai State Bank agrees to accept an old machine and cancel the entire debt. The machine has a cost of $322,000, accumulated depreciation of $177,100, and a fair value of $149,000 (a) Prepare journal entries for Cheyenne Company to record this debt settlement. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) No. Date Account Titles and Explanation Debit Credit Cheyenne Company (Debtor): 1. December 31. 2022